Vale unveils bond buyback

Vale unveils bond buyback

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Brazil Canada US

Brazil's Vale said on Thursday that it has offered to buy back up to $1bn in bonds that mature between 2022 and 2039. The mining company is looking to repurchase as much as $700m in 7.2% 2032 notes, 6.875% 2036s and 6.875% 2039s. After that, it will fill out the buyback with its 4.375% 2022 notes, 6.25% 2026s and 8.25% 2034s, according to a securities filing. Vale said it will pay a $50 premium to bondholders who tender their notes by the early deadline on September 25. The final deadline is Oct

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